Barks Named Chairman of St. Louis Fed Council; Padak Joins Group

Glenn D. Barks, president/CEO of the $1.9 billion First Community CU in Chesterfield, Mo., has been nominated to serve as chairman of the Federal Reserve Bank of St. Louis's Community Depository Institutions Advisory Council.

Barks will lead the group that advises St. Louis Fed President James Bullard on the credit, banking and economic conditions facing the Fed’s Eighth District, which includes Arkansas and parts of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.

Barks will also represent the regional council at biannual CDIAC meetings with Fed Chairman Ben Bernanke, the St. Louis Fed said in its announcement Wednesday.

Frank Padak, president/CEO and treasurer of the $888 million Scott Credit Union in Collinsville, Ill., was nominated to a three-year term on the St. Louis council.

More than 20 credit union representatives serve on the Fed’s CDIACs. Edward Danek Jr., president/CEO of the $80 million Hartford FCU, was named to the Boston Fed’s CDIAC Jan. 8.

Michael Castallana, president/CEO of the $2.5 billion SEFCU in Albany was named chairman of the New York Fed’s CDIAC in October 2012.